Sodium Bicarbonate Market to Cross USD 2 Bn by 2024: Global Market Insights, Inc.

SELBYVILLE, Delaware, July 10, 2019 /PRNewswire/ -- The sodium bicarbonate market is poised to rise from USD 1200 million in 2018 to over USD 2000 million by 2024, according to a 2019 Global Market Insights, Inc. report. Steady growth in the general manufacturing sector in the U.S. will drive the market demand. The manufacturing sector in the U.S. is expected to increase at a steady pace in coming years, mainly due to factors such as technological advancements, growing domestic energy production, rising wages in emerging economies, etc.

The growth in the U.S. manufacturing sector will increase demand for soft abrasive blasting in a variety of end-use industries. Soft abrasives are used in applications such as metal finishing, plastic surface cleaning, glass finishing, paint/coating removal, etc. Oil & gas, iron & steel, metal fabrication, heavy equipment manufacturing, etc. are some of the end-users of soft abrasives. The growth in these end-use industries will further fuel sodium bicarbonate market size during the forecast period.

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The U.S. steel industry is witnessing steady growth with production increase of 6.3% in 2017. Rising domestic steel demand, increasing exports, along with availability of low-cost energy sources owing to the rise in natural gas production in the U.S. will drive the development of the country's steel sector. This will augment sodium bicarbonate market demand for its uses in cleaning and maintenance of equipment and machineries used in the steel industry. The product's ability to clean a surface without generating heat and sparks will contribute to its usage in the oil & gas sector due to the flammable nature of the products handled in this industry.

Sodium bicarbonate market is divided on the basis of form, end use and geography. The three product forms studied in this report are liquid, slurry, and powder/crystal. The product is most popularly used in the solid powder or crystal form and this segment will account for more than 85% share by 2024. It will also be the fastest growing segment with more than 5% CAGR across the forecast span.

Browse key industry insights spread across 300 pages with 367 market data tables & 25 figures & charts from the report, "Sodium Bicarbonate Market Size By Form (Crystal/Powdered Crystal, Liquid, Slurry), By End-user (Food & Beverage, Industrial, Pharmaceutical, Personal Care, Agrochemical, Animal Feed), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Russia, Netherlands, Sweden, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Thailand, Brazil, Mexico, Chile, Argentina, Colombia, Uruguay, Saudi Arabia, Qatar, UAE, Kuwait, Egypt, South Africa), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2024" in detail along with the table of contents:

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Animal feed, industrial, personal care, food & beverage, pharmaceuticals and agrochemicals are the key end-use sectors in global sodium bicarbonate market. Food & beverage will be the dominating segment with an estimated revenue of more than USD 450 million in 2024. Food grade sodium bicarbonate acts as an important ingredient for the preparation of baking powder and acid neutralizing agents.

Europe sodium bicarbonate market revenue will reach USD 400 million by 2024 due to high demand from the mature end-user industries in the region. Stringent environmental regulations have forced the industries to reduce the emission levels and sodium bicarbonate is extensively used for flue gas treatment process.

The sodium bicarbonate market is significantly fragmented and some of the prominent players include Tata Chemicals, Ciner Group, Ciech Group, Solvay, Natural Soda, Church & Dwight Company. The other minor companies are Weifang Taida Union Chemical Co., Ltd., Langfang Huinuo Fine Chemical Co., Ltd., Dalian Future International Co., Ltd., Anhui Daodong Import and Export Co., LTD., Hangzhou Focus International Trading Corporation, Focus Group, and Inner Mongolia IHJUCHEM Industrial Co., Ltd.

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About Global Market Insights

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